Analysts provide stock recommendations for Tencent Music Entertainment Group ADR (TME)

Tencent Music Entertainment Group ADR (NYSE: TME) closed the day trading at $11.06 down -0.09% from the previous closing price of $11.07. In other words, the price has decreased by -$0.01 from its previous closing price. On the day, 8038083 shares were traded.

Ratios:

For a better understanding of TME, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.49 and its Current Ratio is at 2.49. In the meantime, Its Debt-to-Equity ratio is 0.11 whereas as Long-Term Debt/Eq ratio is at 0.11.

On March 20, 2024, Citigroup Upgraded its rating to Buy which previously was Neutral and also upped its target price recommendation from $9 to $13.

On February 05, 2024, Redburn Atlantic started tracking the stock assigning a Buy rating and target price of $12.Redburn Atlantic initiated its Buy rating on February 05, 2024, with a $12 target price.

Valuation Measures:

Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, TME now has a Market Capitalization of 18.93B and an Enterprise Value of 16.70B. As of this moment, Tencent’s Price-to-Earnings (P/E) ratio for their current fiscal year is 25.18, and their Forward P/E ratio for the next fiscal year is 17.03. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 10.95. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.96 while its Price-to-Book (P/B) ratio in mrq is 2.33. Its current Enterprise Value per Revenue stands at 0.59 whereas that against EBITDA is 2.85.

Stock Price History:

Over the past 52 weeks, TME has reached a high of $11.80, while it has fallen to a 52-week low of $5.70. The 50-Day Moving Average of the stock is 9.95, while the 200-Day Moving Average is calculated to be 8.02.

Shares Statistics:

Over the past 3-months, TME traded about 9.21M shares per day on average, while over the past 10 days, TME traded about 10.66M shares per day. A total of 696.11M shares are outstanding, with a floating share count of 688.98M. Insiders hold about 1.02% of the company’s shares, while institutions hold 61.37% stake in the company. Shares short for TME as of Feb 29, 2024 were 26.19M with a Short Ratio of 3.32, compared to 19.57M on Jan 31, 2024. Therefore, it implies a Short% of Shares Outstanding of 1.53% and a Short% of Float of 1.83%.

Earnings Estimates

Current recommendations for the stock of the company come from 8 analysts. On average, analysts expect EPS of $0.14 for the current quarter, with a high estimate of $0.16 and a low estimate of $0.13, while EPS last year was $0.12. The consensus estimate for the next quarter is $0.16, with high estimates of $0.16 and low estimates of $0.14.

Analysts are recommending an EPS of between $0.67 and $0.52 for the fiscal current year, implying an average EPS of $0.62. EPS for the following year is $0.73, with 18 analysts recommending between $0.82 and $0.55.

Revenue Estimates

10 analysts predict $920.67M in revenue for the current quarter. It ranges from a high estimate of $1.02B to a low estimate of $903.84M. As of the current estimate, Tencent Music Entertainment Group ADR’s year-ago sales were $980.64M, an estimated decrease of -6.10% from the year-ago figure.

A total of 24 analysts have provided revenue estimates for TME’s current fiscal year. The highest revenue estimate was $4.23B, while the lowest revenue estimate was $3.87B, resulting in an average revenue estimate of $3.97B. In the same quarter a year ago, actual revenue was $3.85B, up 3.20% from the average estimate. Based on 22 analysts’ estimates, the company’s revenue will be $4.45B in the next fiscal year. The high estimate is $4.7B and the low estimate is $4.25B. The average revenue growth estimate for next year is up 11.90% from the average revenue estimate for this year.

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